Carlsmed, Inc. (NASDAQ:CARL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Carlsmed, Inc. (NASDAQ:CARL) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.75.

CARL has been the subject of several analyst reports. Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Needham & Company LLC started coverage on Carlsmed in a report on Wednesday. They set a “buy” rating and a $17.00 target price on the stock. The Goldman Sachs Group reduced their price target on Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. BTIG Research reissued a “buy” rating and set a $23.00 price objective on shares of Carlsmed in a report on Wednesday, May 6th. Finally, Zacks Research raised Carlsmed from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th.

Carlsmed Trading Up 12.8%

Shares of NASDAQ CARL opened at $11.71 on Thursday. The business has a 50 day simple moving average of $10.71 and a 200 day simple moving average of $11.50. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19. The stock has a market cap of $318.28 million and a price-to-earnings ratio of -4.67. The company has a debt-to-equity ratio of 0.17, a quick ratio of 11.67 and a current ratio of 11.88.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The firm had revenue of $16.12 million for the quarter. On average, research analysts predict that Carlsmed will post -1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CARL. Orbimed Advisors LLC acquired a new position in Carlsmed during the 3rd quarter worth $16,772,000. Janus Henderson Group PLC grew its position in shares of Carlsmed by 7.6% in the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock valued at $11,108,000 after purchasing an additional 86,834 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Carlsmed in the third quarter worth about $3,042,000. KCM Capital Inc acquired a new position in shares of Carlsmed during the 1st quarter worth about $1,810,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Carlsmed by 15.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 175,405 shares of the company’s stock worth $2,154,000 after purchasing an additional 23,163 shares during the last quarter.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).